Prominent figure in the gaming industry, the 95-year-old tycoon who played a significant role in transforming Macau into a gambling mecca, passing away recently.
In the bustling heart of Macau's Cotai Strip, Galaxy Entertainment Group (GEG) stands as the largest real estate owner among all concessionaires. At the helm of this gaming and tourism powerhouse is Francis Lui Yiu Tung, the son of the late Lui Che Woo, who passed away on November 7 at the age of 95.
Francis Lui, now the Chairman of GEG, plays a key leadership role in guiding the company's strategic direction and governance. His influence extends beyond the gaming sector, as he is also known for his philanthropic activities. Recently, he made a significant donation of MOP30 million (approximately $3.7 million) to the Macao University of Tourism (UTM), where the main educational building was named the Yiu Tung Building in his honour.
Besides his role at GEG, Francis Lui chairs the K. Wah Group and serves as the inaugural Chair of the Trustees Committee of the UTM Development Foundation. This broad influence in business and education is a testament to his far-reaching impact.
Lui Che Woo, the late chairman of Galaxy Entertainment, made his initial fortune through the Hong Kong-listed K. Wah Group in quarry mining and construction. His understated demeanour, often marked by his preference for a flat cap during business activities, was a striking contrast to the glitz and glamour of the gambling industry.
Under Lui Che Woo's leadership, Galaxy Entertainment played a crucial role in Macau surpassing Las Vegas as the world's biggest gambling hub in 2006. Since then, Macau has remained the world's largest gambling hub, contributing significantly to the city's economy.
Galaxy Entertainment has announced that a new chairman will be appointed in due course. In the meantime, Francis Lui continues to lead the company, carrying on his father's legacy. His siblings, too, are involved in various aspects of the family's business interests globally.
The passing of Lui Che Woo will not affect the operations of Galaxy Entertainment. His "vision, tremendous leadership, and guidance" were considered imperative for the company's success, and Francis Lui seems poised to continue this legacy.
- In a remarkable shift from his father's initial fortune in quarry mining and construction, the current Chairman of Galaxy Entertainment Group, Francis Lui, has shown interest in casino-culture, playing a significant role in transforming Macau into a global hub for casino-and-gambling, surpassing Las Vegas in 2006, and maintaining its position ever since.
- Frank Lui's influence extends beyond the realm of casino-games and business, as he is a respected figure in casino-personalities, with his philanthropic activities bringing positive change, such as the naming of the educational building at the Macao University of Tourism after him, the Yiu Tung Building.
